Wednesday, August 23, 2006

Guesstimates on August 23, 8:50 am ET

September S&P Futures: The is holding 1299 support and should now rally into the 1309-12 zone.

September Bonds: I think will soon reach 110-08 and then break several points.  

September 10 Year Notes: A rally to 107-12 is underway.

Euro-US Dollar: The market is holding support at 128.00.  I still think it likely that the market will move up to 130.60 before a substantial drop starts.

Dollar-Yen: Support is at 115.80. The yen is on the way  to 119.50. The yen should reach 130 over the next year.

October Crude: Resistance is at 74.00 and I still think we shall see the market break to 68.00 or so before a more substantial rally starts.  

December Gold: I am now short term bullish on gold and expect it to rally into the 665-670 range before the market turns much lower.

September Silver: I am short term bullish on silver and think that a move up to 1350 or so in the cards.  After this rally a drop to below 900 should develop.  

Google:  Support is now at 376 and I think GOOG will soon move above its all time high of 475.  

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